Smiths Group: FTSE 100 giant to be broken up Business Smiths Group has announced plans to ditch a big chunk of its business amid calls from investors for a major shake-up. The FTSE 100 engineering group said on Friday it intended to sell off Smiths Interconnect and separate Smiths Detection via a demerger or sale. Smiths said the move would enable it to double down [...]
Engineering giant Smiths misses profit forecast and launches ‘acceleration plan’ Industrials British engineering giant Smiths Group missed a key consensus forecast and launched an ‘acceleration plan’ to boost profitability, as it snapped up two firms in a £110m spending spree. Smiths reported a 5.4 per cent year on year organic revenue growth to £3.1bn, but the 7.1 per cent increase in operating profit to £526m fell shy [...]
Smiths: Arm making X-ray machines for airports has strong quarter as revenue guidance lifted, share price up X-RAY Engineering company Smiths Group has upped its guidance after the company’s unit that makes X-ray machines for airports saw a strong quarter. The business said it now expects 10 per cent organic revenue growth this financial year. It comes as revenue rose by 13.4 per cent in the nine months to the end of April, [...]
Smiths takes £740m buyback up a notch just days after ‘largest portfolio move in over a decade’ February 11, 2022 Engineering group Smiths has taken its £742m share buyback up a notch in snapping up £75m worth of ordinary shares. It forms part of the second tranche of the programme, which Smiths announced in mid-November, that aims to return a wad of cash to shareholders The second phase of the buyback will begin Monday and [...]
Smiths Group shares jump after it gets ‘superior’ £1.75bn offer for medical unit September 8, 2021 FTSE-100 tech company Smiths Group was among the biggest gainers today after it agreed to sell its medical unit to ICU Medical for around £1.75bn. Smiths could also bank a $100m bonus from the deal, dependant on the ICU Medical’s future share price. It led Smiths to recommend shareholders back the new “superior” offer instead [...]
FTSE 100 engineer Smiths to sell medical division for $2.3bn August 2, 2021 British engineering giant Smiths this evening announced that it would sell its medical division to US private equity firm TA Associates for $2.3bn (£1.7bn). Under the deal, the FTSE 100 firm could be in line for a $200m windfall depending on how Smiths Medical performs in the future. The acquisition is just the latest in [...]
Tech group Smiths wires new CEO from the US May 25, 2021 Technology group Smiths has hired a new chief executive officer who will relocate to the UK from the US in a “mutually agreed” exchanging of the helm today. Starting with immediate effect, incoming CEO Paul Keel formerly worked with US industry giant 3M for 16 years where he led a number of businesses, including its [...]
Smiths Group shares jump on the back of strong first quarter growth November 13, 2019 Global technology company Smiths Group today announced that its guidance for the year remained unchanged, based on a strong first quarter performance. Shares in the company rose 3.8 per cent on the back of the update. Read more: Smiths Group spin off ailing medical division into separate business The FTSE 100 company said that revenue [...]
Smiths Group to spin off ailing medical division into separate listed company March 22, 2019 British engineering firm Smiths Group will spin off its struggling medical business and list it separately on the London Stock Exchange, the company said today. Smiths had unveiled plans for a demerger in November after a proposed sale of the healthcare unit to US firm ICU Medical fell through. Read more: Smiths Group to spin [...]
Smiths Group set to spin off medical arm after sale stopped in September November 14, 2018 Shares in engineer Smiths Group soared on plans to spin off its healthcare unit after a proposed sale to ICU Medical fell through in September. The disposal of Smiths Medical, which was reportedly valued at around £7bn in the ICU deal, will allow the group to focus on its remaining industrial technology operations. Smiths also [...]